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Practice Management Guidance

CPA practitioners must exercise due diligence and professional skepticism in accepting and continuing all clients and engagements. A continual evaluation of the client (whether prospective or continuing) can keep a CPA’s exposure to litigation and financial controversy to minimal risk. And the foundation for this evaluation must be our Code of Conduct.

Any closely held business that operates without adequate segregation of duties is exposed to the risk of embezzlement. This is hardly a revelation. In fact, it’s Bookkeeping 101. Yet, time and again, this vulnerability is exploited to devastating effect. There is an odd, overarching irony to it all.

Have you ever considered which classes or categories of persons or entities bring claims of accounting malpractice? Your awareness of who they are and how they succeed can help you steer clear of trouble.

Practice Management Blog Posts

Do you have a succession plan in place? If you are a sole proprietor or a local CPA firm, the answer is “no” more often than not. Less than 10 percent of sole proprietors have a practice continuation agreement in place. You can fix that.

The National MAP survey is the leading benchmarking study for CPA firms. The biannual report measures key practice management points and offers strategic insights. Because nearly 60 Pennsylvania firms participated in the 2016 survey, PICPA members have access the results.